The Board of Directors at their meeting held on April 03, 2025, has approved the issuance of Equity shares and convertible warrants by way of preferential issue on private placement basis.
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POCL Enterprises' board, at its April 3, 2025 meeting, approved issuing up to 30,86,647 equity shares at Rs. 202 each (face value Rs. 2, premium Rs. 200) and up to 6,12,288 convertible warrants at Rs. 202 each, on a preferential/private placement basis. The total potential raise is about Rs. 74.72 crore (Rs. 62.35 crore from shares plus Rs. 12.37 crore from warrants). The warrants are convertible into one equity share each within 18 months of allotment, or they lapse. Allottees include 8 promoter/promoter-group members and 61 non-promoter investors (64 total for shares, 18 for warrants), with notable names such as Antara India Evergreen Fund Ltd and Rajiv Khanna among them. The board also approved restated Articles of Association to enable issuance of such securities, and an EGM is set for April 28, 2025 to seek shareholder approval.
This is a meaningful equity dilution event for existing shareholders — the issue price (Rs. 202) is at a steep premium to face value, but warrants could expand the share count further if exercised. For the stock, the move brings in fresh capital and signals promoter commitment, though share price reaction will depend on the discount/premium to market price at the time of allotment.